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Nonprofiteer
← MOUNTAIN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by MOUNTAIN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$74,072,410
Total expenses
$80,455,868
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$72,224,228
Investment income
$136,907
Other revenue
$1,711,275
Total assets, end of year
$155,709,630
Total liabilities, end of year
$84,032,385
Net assets or fund balances, end of year
$71,677,245
Program services expenses (Part IX)
$80,455,868
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$80,455,868

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2f · All other program service revenue

    total $72,224,228 · related or exempt $72,224,228 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $136,907 · related or exempt $136,907 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $1,694,924 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $1,694,924 · personal property $0

  • 6d · Net rental income or loss

    total $1,694,924 · related or exempt $1,694,924 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $16,351 · related or exempt $16,351 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $16,351

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: Purchased Power

    total $50,351,933 · program services $50,351,933 · management and general $0 · fundraising $0

  • 24b · Other expenses: Operating and General Expenses

    total $24,191,871 · program services $24,191,871 · management and general $0 · fundraising $0

  • 24c · Other expenses: Depreciation Expense

    total $3,912,594 · program services $3,912,594 · management and general $0 · fundraising $0

  • 24d · Other expenses: Debt Expense

    total $1,999,470 · program services $1,999,470 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,139,173 · end of year $6,522,848

  • 2 · Savings and temporary cash investments

    beginning of year $406,004 · end of year $57,326

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $3,402,456 · end of year $3,425,537

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,691,804 · end of year $2,690,755

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,842,815 · end of year $4,790,152

  • 10a · Land, buildings and equipment: cost or other basis

    $202,790,026

  • 10b · Land, buildings and equipment: accumulated depreciation

    $66,866,228

  • 10c · Land, buildings and equipment, net

    beginning of year $127,561,057 · end of year $135,923,798

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $2,056,434 · end of year $2,299,214

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,903,141 · end of year $30,783,193

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $40,323,705 · end of year $38,597,239

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $10,535,200 · end of year $14,651,953

  • 29 · Capital stock, trust principal or current funds

    beginning of year $146,405 · end of year $147,035

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $82,191,292 · end of year $71,530,210

Mission and programs · 2024

Mission

Electric Power Distribution: To provide reliable electric power at the lowest possible cost

Activities or mission (Part I)

Distribution of Electricity

  • Electric Power Distribution: To provide reliable electric power at the lowest possible cost

    Expenses $80,455,868 · Revenue $74,072,410

As filed on the 2024 return.

Listed in Part VII

  • Rodney Metcalf

    General Manager

    Total calculated
    $266,513
    From this org
    $266,513
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,513
    Bonus
    $0
    Other
    $0
    Deferred
    $37,312
    Nontaxable benefits
    $0
    Filer's total
    $303,825

  • Steven Bishop

    Director of Engineering

    Total calculated
    $138,990
    From this org
    $138,990
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jonathan Kyle Holtsclaw

    District Manager

    Total calculated
    $111,575
    From this org
    $111,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bruce Lacey

    Trustee

    Total calculated
    $12,891
    From this org
    $12,891
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.13

  • W O Hampton

    Secretary Treasurer

    Total calculated
    $12,779
    From this org
    $12,779
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.67

  • Vickie Davidson

    Trustee

    Total calculated
    $8,651
    From this org
    $8,651
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.29

  • Ronnie Townson

    Trustee

    Total calculated
    $8,540
    From this org
    $8,540
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.63

  • David Ellis

    President

    Total calculated
    $8,351
    From this org
    $8,351
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.85

  • Robert Heck

    Trustee

    Total calculated
    $8,240
    From this org
    $8,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.13

  • David Atwood

    Trustee

    Total calculated
    $7,940
    From this org
    $7,940
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.83

  • Harry Smith

    Trustee

    Total calculated
    $2,712
    From this org
    $2,712
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.21

  • Danny Harmon

    Trustee

    Total calculated
    $1,400
    From this org
    $1,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
13 February 2026
IRS schema version
2024v5.0
Source object
202601339349305530

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